Alibaba sees 1Q20 revenues down sequentially
by Adam Hwang, DIGITIMES, TaipeiChina-based e-commerce operator Alibaba Group has reported consolidated revenues of CNY114.314 billion (US$16.14 billion) for first-quarter 2020, decreasing 29.20% sequentially but increasing 22.26% on year.
The revenues consisted of CNY93.865 billion (82.11%) from core e-commerce business, CNY12.217 billion (10.69%) from cloud computing services, CNY5.944 billion (5.20%) from digital media and entertainment services, and CNY2.288 billion (2.00%) from innovation initiatives and others.
Of the e-commerce revenues, China's retail market accounted for 75.54%; China's wholesale market for 2.97%; overseas retail markets for 5.70%; and overseas wholesale markets for 2.62%.
As of the end of March 2020, Alibaba had 726 million active consumers and 846 million active mobile users in its domestic online shopping market.
| Alibaba: Financial results, 1Q20 (CNYb) | |||
| Item | Amount | Q/Q | Y/Y |
| Consolidated revenues | 114.314 | (29.20%) | 22.26% |
| Net operating profit | 7.131 | (81.97%) | (18.64%) |
| Net profit | 3.162 | (93.96%) | (87.76%) |
Source: Company, compiled by Digitimes, May 2020